Tuesday, October 1, 1974

Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Page: 10

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Text Content of Page 10 of Cedar Rapids Gazette on Tuesday, October 1, 1974

Cedar Rapids Gazette (Newspaper) - October 1, 1974, Cedar Rapids, Iowa Culver: Need More Data Foreign Investments H> Dorothy Williams WASHINGTON-Tn point out how little we know about the extent of foreign invest ment in this country Rep John < Culver, writing in the fall issue of Foreign Policy, cites the case of Iowa The commerce department list of    foreign-cont rolled plants in the United States indicates that there are only two in my own state of Iowa. whereas an admittedly unsa-tisfactory search through state records by the staff of the Iowa development commission identified 28 companies that appeared to have some degree of foreign ownerships,” he said Such,” he continued, “is the state of our information on direct foreign investment in manufacturing, mining, and petroleum—and there is almost none available on real estate holdings or on the farm production and food processing industries ” The Cedar Rapids Democrat wrote of the Iowa situation in an effort to bolster his contention that we need and need badly information on who owns what and where Recently the house passed by a vote of 324 to 29 a bill which Culver introduced to provide for just such an information gathering study The senate has approved similar legislation introduced by Sen Inouye (D-Hawaii) Alarm over the threat posed by possible investment of Arab petrodollars in this country on a large scale accounted for the widespread backing given the bill both in congress and in the executive branch of the government The study, expected to cost S3 billion, would be carried out by the secretaries of commerce and of the treas urv Foreign investment is defined as investment that could lead to control of an enterprise and investment in portfolios. But this study in itself will not be enough, in Culver's view. Foreign economic policy decision-making must he cie vated to a higher level in our government, Culver said We must recognize that "in in ternational relations, economic issues have attained ascend ancy over political and securi ty matters,” he wrote “These two steps—information gathering and structural improvement—will not by themselves answer the concern of the farmer who sees a soybean processing plant taken over by foreign interests and who wants to know what it means for his crops and his prices and his access to transportation facilities “But they will help us develop the right answers, and allow the congress to push the executive to share and meet such concerns “Above all,” he added, “it is the access of farmers and other affected groups to their elected representatives in congress that will assure both the continuation of the debate and its elaoration from general principles into particularized and responsive inquiry ” Culver, who conducted hear ings into the issue as chairman of the house foreign economic policy subcommittee. said he was not arguing for restrictions on foreign invost- Svoboda Pledges State Income Tax Reform WILLIAMSBURG—’Linda Svoboda. Democratic candidate for state representative from the 72nd district, said she would work to make state income tax systems more progressive Addressing a meeting of Amana Refrigeration union members here, she criticized her opponent. Ray league, Marengo, for voting against debating a tax reform package which she 1 said would have lowered state income taxes for Iowans making less than $18.-(MMI In greeting the labor group, she stated unions are important for obtaining a decent living for the wage earner New Officers POSTVILLE—New officers for the Postville Kiwams club are Kenneth Schultz, president, A Burr Conk, first vicepresident. and the Rev Norman Ullestad. second vicepresident ment in the United States “The message to policymakers both in congress and the executive is that domestic interests must be taken into account when setting foreign economic policy,” he wrote There was a time, he wrote, when “many such decisions were made on the assumption that international economic development did not materially affect the United States and that foreign economic policy could bo divorced not only from domestic considerations but also from international security and political interests as well “These various elements Cited are part of a seamless web and must Is* treated as such,” he continued “Otherwise, similar behavior in the future could harm the interests of various groups within the U S and their narrowly conceived reactions would jeopardize a rational foreign economic policy.” Roy Meriwether Trio Performs at Fayette FAYETTE—Jazz pianist Roy Meriwether and his trio will perform in f'olgrove-Walker auditorium a at 8 p m Friday Meriwether blends jazz, blues, gospel, and rock with classical elements in a style that has drawn crowds to nighclubs and concert halls across the country General admission is $1 Upper Iowa students will be admitted with their ID cards The Cedar Rapids Gazette: Ties., Ort. I, 1*74 Lisbon Youths Attempt to Break Clapping Record LISBON—Five Lisbon youths attempted to break the Guinness world record for handclapping this weekend, and they may have done it Donna, 15, Sheryl, ll. and Him. 9, Fisk, children of Mrs .Joyce Fisk, along with Linda. 9 and Allen, ll, Hilsenbeck. children of Mr and Mrs James Hilsenbeck, clapped from 7 45 Saturday morning continuously until 11pm that night — a total 15 hours and 15 minutes The five youths walked about the equivalent of 200 blocks around Lisbon, asking for signatures of those watching so that they can send in the information in hopes of establishing a new Guinness record The children’s aunt, Mrs Delores Mulmx. organized the event, after they approached her and asked how they could go a binit such a feat She saw to it that they were equipped with the proper papers required for establishing a new record. The chiildren received 48 signatures from persons authorizing the event took place Several months ago, a group of Cedar Rapids youths clapped for about 15 hours in an attempt to break the previous record of 14 hours The Lisbon record-breakers wanted to outdo even that event DRIVE SAFELY Chrysler Corporation announces a new car warranty wits unlimited mileage for one full year JOCK I' if X XX)’) For tho first 12 months of use, any Chrysler Motors Corporation dealer will fix, without charge for parts or labor, any part of our 1075 passenger carf wa supply (except tiros) which proves dsfectivo In normal usa, regardless of mileage. And that’s just the beginning. We’re confident that you’ll find everything about our new ’75’s—from engineering and styling to economy-easy to say yes to. And for the clincher, we’re backing them up with our new Owner Care Program. It starts with a new 12 month, unlimited mileage warranty so strong and simple it s bound to generate questions. So, right here and now, we offer some answers. Q. Unlimited mileage sounds simple enough. But what’s the catch? A. There s no catch. The warranty covers every part we put in the car. And it s good for as many miles as you can drive in 12 full months. Q. What about labor? How much will that cost? A. Nothing, lf Chrysler Corporation put that part on your car, it s covered. Parts and labor. And that goes for everything except tires, which are covered separately by their manufacturer. Q. But there are some expensive things that could just “wear out” if you drive enough miles even though they’re not “defective.” You know; brake linings, mufflers, shock absorbers. Do I have to pay for them? A. No. To a lot of people those might be considered something for you to worry about. But since we want to make your relationship with the car we make as worry-free as possible. we’re ready to take on those responsibilities. So, even if they just wear out during the first 12 months of normal use. we’ll replace them no matter how many miles you drive. Q. That’s a great “extra.” Does it include everything that just wears out? A. No. We expect you to take care of normal maintenance-the little things like changing filters and wiper blades (unless, of course, they’re defective, then they come under the warranty). Q. The only way you could top all that is throw in a free loaner. Uh...do you? A. Sure, lf you make an appointment for warranty repairs in advance, and the job cannot be completed from morning until evening of the same working day, participating dealers will supply you with a loaner. Free. Q. is there anything else I should know? A. Replacing certain worn out parts, our unlimited mileage warranty and our free loaner program are all lust the beginning of a new Owner Care Program, designed to make owning our new cars.so worry-free, they'll be irresistable. See your Chrysler-Plymouth or Dodge dealer. Ask him about his new cars, then ask him about "The Clincher!" 0 (ll Kl MFB Dodge Plymouth Ouilqe Jruih', Its going to take better care of the people who buy our cars. & CHRYSLER CORPORATION J